NEW YORK, April 4 (Reuters) - There is no risk of a high-yield junk bond "meltdown" because the risk of a recession is low, Jeffrey Gundlach, chief executive of DoubleLine Capital, said on a client webcast on Tuesday.

Gundlach, who oversees more than $105 billion in assets at Los Angeles-based DoubleLine, also said he does not think financial markets will see 3 percent on the 10-year Treasury yield this year. (Reporting by Jennifer Ablan, editing by G Crosse)